And more from Paulson on CNBC as he compares and contrasts the economic crisis in Greece and Lehman Brothers Holdings’ bankruptcy: “The one thing that we should take away from Lehman Bros. is you don’t want a big, systemic institution to fail in a messy way, and you clearly don’t want that with a member state.”

PIMCO CEO Mohamed El-Erian lauds in the Financial Times the coupling of the Federal Reserve’s recent efforts at increased transparency and policy activism: “The bad news is that we will not know for a while whether the Fed’s unusual activism will work. However, when the time finally comes — and here is the good news — historians will have an unusual amount of information to understand the content in which innovations and important decisions were made.”